How Expensive Is Harvard

A Times news article about Malia Obama's decision to go to Harvard reports that the college is "one of the most expensive, costing more than $60,000 a year for tuition, room, board and other fees."

That's misleading, because that's the retail price. Most people whose parents aren't "rich" qualify for financial aid, which is essentially a discount off that sticker price. If you go to the U.S. government's "net price" calculator, Harvard doesn't even show up on the list of the most expensive 4-year private, non-profit colleges and universities. Because Harvard is so well endowed, it gives better financial aid packages than do a lot of other colleges and universities, at least to prospective students whose parents aren't as rich as President and Mrs. Obama are.

From the perspective of Harvard, at least, misleading news coverage like this is damaging, because the "expensive" reputation and tag scares away families who might otherwise consider applying.